Dipexium Shares Surge On Announced Merger With PLx Pharma | Fox Business

Shares of Dipexium Pharmaceuticals Inc. surged in the extended session Thursday after the microcap drug maker said it will merge with privately-held PLx Pharma Inc. Dipexium shares rallied 66% to $2.65 after hours. Dipexium said it will issue about 36 million new shares of its stock to PLx shareholders, who will own just under 77% of outstanding shares while current Dipexium shareholders will own a little over 23%. The new company will retain the name PLx Pharma Inc. The focus of the company will be development and commercialization of Aspertec, an aspirin for high-risk cardiovascular and neurology patients.